Ethereum Whales Increasing Holdings

Ethereum whales are making a notable investment in the top altcoin by market cap, creating a significant $236 million buy wall within just three days.

Current Market Situation

Ethereum (ETH) is still trading below $2,000, facing challenges from recent sell-off pressures. Despite this, whales—large-scale investors with considerable ETH holdings—remain undeterred. On-chain data indicates that the largest altcoin has seen considerable buying activity from these major holders.

Whale Activity

On March 21, crypto analyst Ali Martinez reported a notable increase in whale accumulation of ETH. The recent price dip that brought Ethereum down from above $2,000 provided an opportunity for whales to acquire over 120,000 Ether tokens, valued at nearly $236 million, within a mere 72 hours.

> “Whales bought over 120,000 #Ethereum $ETH in the last 72 hours!”
> — Ali (@ali_charts) March 21, 2025

Additionally, Lookonchain revealed that one prominent whale purchased 7,074 ETH, worth over $13.8 million. This whale withdrew 4,511 ETH valued at over $8.81 million from the crypto exchange OKX, deposited it into the decentralized finance platform Aave, and then borrowed 5 million USDT from Aave to acquire an additional 2,563 ETH for $5 million.

> “A whale bought 7,074 $ETH($13.8M) today!”
> — Lookonchain (@lookonchain) March 21, 2025

During this time, Ethereum’s price fluctuated between $1,872 and $2,060, currently trading around $1,966 after a modest 7% rally. Weekly gains are at 1.7%, amid a 27% pullback over the past month.

Future Outlook

While some ETH holders are in panic-selling mode due to the volatile market, whales are taking a bold stance, signaling confidence in Ethereum’s potential for price increases. Recent predictions by analysts at Standard Chartered suggest ETH could reach $4,000 in 2025, down from an earlier target of $10,000 by year’s end. This optimistic outlook from whales is fostering a positive sentiment among retail investors.